The agreement will define the terms and conditions under which the development, construction and operation of the pipeline will be secured through a legally binding framework.

The Albanian Commission for Negotiations and Trans Adriatic Pipeline (TAP) representatives held their initial meeting at the offices of the Ministry of Economy, Trade and Energy in the capital Tirana.

Items under discussion were TAP’s implementation process of the gas value chain, including pre-construction activities as well as construction and operational requirements in Albania.

The parties endeavour to conclude the negotiations in compliance with the overall timetable governed by the Shah Deniz Stage II project in Azerbaijan.

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Minister of Economy, Trade and Energy of Albania (METE) Nasip Naço said “The realisation of the TAP project is of a very special significance, as it does not only provide economic development through investments to be carried out, new work places that will open, and income to be generated, but also because it is of strategic importance for the energy security across Europe, the Western Balkan region, and mainly Albania, where the latter not only has shown strong economic performance, but has become a stability factor in the region.”

TAP is a natural gas pipeline project that will transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into western Europe. The project is designed to expand transportation capacity from 10–20 Bcm/a.

TAP’s shareholders are Switzerland’s EGL (42.5 per cent), Norway’s Statoil (42.5 per cent), and Germany’s E.ON Ruhrgas (15 per cent).